Cairn Homes (CRN) Trading update summary

Trading performance and demand

• Order book increased to approximately 3,850 new homes, valued at €1.5 billion, up by 400 homes since early March 2026.

• Growth expected to continue with upcoming spring launches, mainly targeting first-time buyers and large mixed tenure apartment schemes.

• Strong H1 performance anticipated, supported by prior investments in operational scaling.

Cost and market environment

• Build cost inflation year-to-date is around 2.5%, influenced by ongoing geopolitical volatility.

• No material impact on full-year outlook expected despite global energy cost increases and Middle East conflict.

Sustainability and social impact

• Delivered first 600 Passive House standard apartments to LDA and AHB partners, reducing tenants' utility bills.

• Commitment to sustainable homes with lower lifetime energy usage remains a priority.